Earnest Partners LLC Sells 33,948 Shares of NOV Inc. (NYSE:NOV)

Earnest Partners LLC lessened its holdings in shares of NOV Inc. (NYSE:NOV) by 0.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,041,440 shares of the oil and gas exploration company’s stock after selling 33,948 shares during the period. Earnest Partners LLC owned 1.02% of NOV worth $78,889,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in NOV by 95.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 879,960 shares of the oil and gas exploration company’s stock worth $17,846,000 after buying an additional 429,104 shares in the last quarter. Wintrust Investments LLC boosted its holdings in NOV by 631.6% in the first quarter. Wintrust Investments LLC now owns 81,943 shares of the oil and gas exploration company’s stock valued at $1,600,000 after acquiring an additional 70,743 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its position in NOV by 16.1% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,200,000 shares of the oil and gas exploration company’s stock worth $44,616,000 after purchasing an additional 305,000 shares during the period. Schroder Investment Management Group raised its holdings in NOV by 71.3% during the 4th quarter. Schroder Investment Management Group now owns 1,092,422 shares of the oil and gas exploration company’s stock worth $22,154,000 after purchasing an additional 454,665 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in NOV by 1.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,883,885 shares of the oil and gas exploration company’s stock valued at $75,813,000 after purchasing an additional 42,717 shares during the period. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NOV. Piper Sandler dropped their price target on shares of NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price target on shares of NOV in a research note on Monday. Bank of America decreased their price objective on NOV from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Benchmark reissued a “hold” rating on shares of NOV in a research note on Friday. Finally, Susquehanna restated a “positive” rating and set a $26.00 target price on shares of NOV in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.21.

NOV Stock Down 0.2 %

NYSE NOV traded down $0.04 on Monday, reaching $19.81. The company had a trading volume of 3,534,691 shares, compared to its average volume of 3,736,392. The company’s fifty day moving average is $18.39 and its 200-day moving average is $18.61. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 7.96, a price-to-earnings-growth ratio of 0.62 and a beta of 1.71. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.64 and a current ratio of 2.61. NOV Inc. has a 1-year low of $16.77 and a 1-year high of $21.91.

NOV (NYSE:NOV) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.22. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.19 billion. NOV had a return on equity of 10.97% and a net margin of 11.88%. NOV’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share. On average, research analysts forecast that NOV Inc. will post 1.55 earnings per share for the current fiscal year.

NOV Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, June 14th. This is a positive change from NOV’s previous quarterly dividend of $0.05. NOV’s payout ratio is currently 12.05%.

NOV Profile

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.